Near Protocol Moves Closer To Its $70M Reward Snapshot

TVL Crosses $60M With $10M Left to Go

NEAR Protocol's (@NEARProtocol) Confidential Intents has crossed $60 million in total value locked, leaving the protocol just $10 million short of the threshold that will trigger its first major reward event. When aggregate TVL reaches $70 million, the Drop 1 snapshot for NEAR@3.33 will be taken, locking in allocations for eligible participants.

The milestone matters because the NEAR@3.33 program distributes a fixed pool of 333,333 milestone tokens to qualifying Confidential Intents users. To be eligible for Drop 1, participants must hold a confidential balance above $100 and have completed at least one confidential swap before the TVL threshold is reached.

How the NEAR@3.33 Program Works

NEAR@3.33 is a milestone incentive program tied directly to Confidential Intents activity on near(.)com. The tokens issued are non-transferable at first. Conversion to NEAR on a 1:1 basis only occurs if NEAR's volume-weighted average price (VWAP) holds at or above $3.33 for three consecutive days, meaning two separate on-chain conditions must be met before any tokens change hands.

Allocation is not simply a function of deposit size. It is scored by sustained confidential balance weighted by time held, plus ongoing swap activity. Earlier participation carries greater weight in the calculation, so users who have been active on Confidential Intents since before the snapshot carries an advantage over those who enter late. No single wallet can receive more than 2 percent of Drop 1, equivalent to roughly 6,666 tokens, so large last-minute deposits offer limited additional benefit.

Confidential Intents itself is NEAR's private execution layer for cross-chain swaps, running inside a private shard connected to mainnet via a trusted execution environment (TEE) bridge. The architecture is designed to shield transaction amounts and counterparties from being visible on-chain until settlement, protecting users from MEV and frontrunning rather than providing full anonymity.

With TVL having climbed from roughly $26 million in mid-June 2026 to over $60 million by early September, the protocol is approaching the $70 million milestone at a steady pace. More drops are planned after Drop 1, with conditions calibrated to higher levels of community activity.

Sources:
Crypto Briefing: NEAR's Confidential Intents TVL surpasses $26M as private execution expands
Nansen: NEAR Protocol Q2 2026 Report
Coinfomania: Confidential Intents Hits $60M in TVL